Listed local cement company Eagle Cement Corporation (EAGLE) continued its growth trajectory in 2018, with net income jumping by 13% to Php4.8 billion amid some headwinds in the market environment.
Eagle Cement breaks ground on its P12.5-B integrated cement plant in Cebu
Nov 22, 2017
Malabuyoc, Cebu –– Eagle Cement Corporation (EAGLE) has embarked on its plans to raise its production capacity to 9.1 million metric tons with the recent ground breaking of its fourth production line in Malabuyoc, Cebu.
The Cebu plant (Line 4) targets its completion date in 2020 and will include a 2.0 million metric ton integrated cement manufacturing plant, port facilities and cement terminals to serve the Visayas and Mindanao markets.
“This groundbreaking brings us a step further to achieving our long-term goals as a company, which is to strengthen the brand and increase market share. We hope to continue succeeding by increasing capacity to better serve our consumers nationwide,” President and Chief Executive Officer Paul Ang says.
Currently, the company has two lines producing about 5.1 million metric tons of cement per year serving the greater Luzon markets. EAGLE is also aiming to complete its third production line in Bulacan by 2018, which will raise capacity to 7.1 million metric tons per year. This will expand the company’s coverage to more markets in Southern Luzon.
“We are expanding more to new markets such as Southern Luzon, Visayas and Mindanao. By next year, our Line 3 in Bulacan will be fully functional to serve those areas with the most efficient and energy saving manufacturing technology,” Ang adds.